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August 5, 2016
Breakout session presentations
2016 Risk and Profit Conference
Breakout … spatial technologies and farm
management from Purdue University. He … profitability. Using Kansas Farm Management Association
(KFMA) farm …
September 5, 2023
Animal ID & Traceability
while dually mitigating the risk of
clutter, data loss, and … a modernized animal data management tool to keep pace in an
ever-changing … are
presented when greater details on management and pre-conditioning protocols …
May 7, 2019
Grain Market Outlook
A Deferred Future “Carrying Charge” View of KS HRW Winter Wheat Futures
On May 6th carrying charges between the JULY 2019 to SEPTEMBER 2019 Kansas HRW Wheat futures
contracts (i.e., the JUL‐SEP 2019 Spread) were $0.11 per bushel, or $0.0550 per bushel per month. This
compares to spreads of $0.22 /bu or $0.0733 /bu/mo. for SEP‐DEC 2019, and $0.2250 /bu or $0.0750 /bu/mo.
for DEC 2019‐MAR 2020 Kansas HRW Wheat futures contracts.
These “full carry” deferred futures full contract storage cost contract spreads are influenced by large
supplies on hand – which leads to higher Variable Storage Rates (VSR) among Kansas HRW Wheat futures
contracts. These large carries are encouraging storage of “new crop” 2019 Kansas HRW wheat on the one
hand, and provide the basis for a potential return to storage hedges by producers and grain elevators for the
2019 HRW wheat crop on the other.
Extending this analysis further to later deferred contracts, whereas on May 6th harvest JULY 2019 Kansas
HRW Wheat futures closed at $4.03 /bu, the JULY 2020 contract closed at $4.84 ¾ /bu for JULY 2020 – up
20.2% and $0.0681 /bu/month from JULY 2019. Extending even further into the next year, on May 6th JULY
2021 KS HRW Wheat closed at $5.42 ½ /bu, up 11.9% and $0.0479 /bu/month from JULY 2020
From an economic viewpoint, these deferred years’ JULY Kansas HRW Wheat futures prices in years 2020
& 2021 could reflect market expectations that HRW wheat futures prices will eventually be higher than
current bids for JULY 2019 futures – which is consistent with economic theory. However, it also seems that
the carrying charges now reflected across the range of available deferred KS HRW Wheat futures contracts
appear to be being extended out to the distant “new crop” JULY 2020 and JULY 2021 contracts.
Restated, it appears these uninterrupted positive carrying charges are being inflexibly and mechanically
applied to deferred KS HRW Wheat futures contracts as far as 24 months into the future – regardless of what
expected fundamental supply‐demand conditions may be in the wheat market that far out. If this is so, then
these deferred futures prices may present: a) opportunities for long‐term market arbitrage positions to
traders, or b) hedging opportunities for U.S. wheat producers IF they are able to financially manage the risk of
potential margin call …
December 1, 2016
KFMA Research
average had little effect, and risk aversion on average had a … through more exact input management (Schimmelpfennig, USDA ERS … providers for farm production
management recommendations and decisions …
July 10, 2020
Ag Law Issues
account for the additional risk that the debtor might default … rate to
account for the risk that the debtor would default … adjustment to reflect the risk of nonpayment by the debtor …
August 1, 2021
General Sessions, Grain Marketing Presentations
Outlook for 2021-22
2021 Risk & Profit Conference
Manhattan … Nov. 12th, & January 2022
o Risk of further 2021 crop production … Soybeans & Wheat futures at risk to fall sharply in
the …
August 1, 2021
Breakout Sessions
Grain Market Outlook
2021 Risk & Profit Conference
Manhattan … Nov. 12th, & January 2022
o Risk of further 2021 crop production … Soybeans & Wheat futures at risk to fall sharply in
the …
2021 Risk and Profit Conference Recordings
Outlook for 2021-22
2021 Risk & Profit Conference
Manhattan … Nov. 12th, & January 2022
o Risk of further 2021 crop production … Soybeans & Wheat futures at risk to fall sharply in
the …
September 4, 2017
Section 8: Miscellaneous Information
Development
loans, NRCS decisions, RiskManagement
Agency concerns, ag law … Service,
Rural Development and RiskManagement Agency.
Agricultural Financial …
May 1, 2023
Production Publications
DEPARTMENT OF AGRICULTURE (USDA) RISKMANAGEMENT AGENCY (RMA) FEDERAL CROP … DEPARTMENT OF AGRICULTURE (USDA) RISKMANAGEMENT AGENCY (RMA) FEDERAL CROP …